Webinar: New Renewable Energy Procurement Models Opening the Market to Midsized Corporations
June 27, 2019
Webinar Date & Time: July 24, 2019, 11:00 a.m. PT
Speakers: Rob Collier, Vice President of Developer Relations, LevelTen Energy and Zach Starsia, Senior Manager, Origination, LevelTen Energy
Two corporate renewable energy deals made headlines this year for being unprecedented: First, Bloomberg, Cox, Gap Inc., Salesforce and Workday aggregated to collectively purchase 42.5 megawatts of renewable energy, becoming the anchor tenant on a solar project. Then, Starbucks made waves when it procured 146 megawatts of renewable energy through a portfolio of power purchase agreements with three different wind and solar projects.
At first glance, these deals don’t seem related, but each are the result of a fundamental shift in the way renewable energy is bought and sold. Corporations are now able to purchase a slice of a project’s capacity, rather than committing to purchase the majority of energy the project will produce.
This seemingly simple concept has far-reaching effects. Now, midsized corporations can team up to become the anchor tenant on a project, enabling the developer to get the financing it needs to start construction without a utility or large corporate buyer on board. At the same time, a single corporation can now purchase many slices of different types of projects, creating a portfolio that diversifies and reduces risk – the one thing that’s been holding many buyers back.
On July 24, 2019, at 11:00 a.m. PT, LevelTen Energy will host a webinar describing how these new procurement models work in practice, including:
- The two routes corporate buyers can take to participate in an aggregated deal:
1) Buyer-led: When buyers find each other, align on priorities, and then look for a project that meets everyone’s needs (with help from a shared advisor)
2) Platform-driven: When buyers share their needs with LevelTen, which then matches them with other buyers and a project that meets all parties’ needs (communication goes through LevelTen; buyers don’t have to interact with each other)
- How renewable energy portfolios are created, and how portfolios maximize value and minimize risk
- What a corporation needs to consider when putting together a portfolio of power purchase agreements
This webinar is a can’t-miss for any corporate buyer that is considering entering into a power purchase agreement to meet their renewable energy goals.